Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose you purchased 100 shares of The Southern Company's common stock for $64.90 per share on January 3, 2022, the first day that the stock

Suppose you purchased 100 shares of The Southern Company's common stock for $64.90 per share on January 3, 2022, the first day that the stock market was open for trading that year.  During 2022, you received a cash dividend of $2.70 per share.  At the end of the year, you sold each share of the Southern Company that you owned for $70.67 per share. You earned $270 in dividends, and you realized a $577 capital gain for a total dollar return of $847.  Based on this information, what was the percentage that you generated from the dollar return? (You may round your final answer to the nearest hundredth.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

i To Calculate the percentage return on investment we ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

11th edition

978-0134065830, 134065832, 134127625, 978-0134127620

More Books

Students also viewed these Finance questions

Question

Explain possible uses for single-case research.

Answered: 1 week ago

Question

Describe early attempts to use traits to conceptualize personality.

Answered: 1 week ago